WA pot consultant: Revenue estimate way off

SEATTLE — Washington state’s marijuana consultant says revenue estimates of how much money legalization can bring have been way off.

In an interview with public affairs channel TVW on Thursday, consultant Mark Kleiman said several factors like competition from the medical marijuana market, illegal sales and high prices are likely to affect the demand for the planned legal source of marijuana.

Initial estimates said the state could bring more than $400 million a year from the marijuana market.

Kleiman leads the Massachusetts-based BOTEC Analysis Corp., which the state picked this month to help legalization. The voter-approved legalization tasks the state with regulating crops and stores of marijuana.

Kleiman says that if the state sees $100 million in revenue during the first fiscal, it would be a good start.